Honeywell Weighs Aerospace Split After Elliott Breakup Call (3)

Honeywell International Inc. is exploring a separation of its aerospace business as the industrial company faces calls from activist Elliott Investment Management for a breakup.

The potential move is under consideration as part of a broader review started earlier this year, Honeywell said Monday in a statement. The company plans to provide an update on the effort with its fourth-quarter earnings report.

Offloading the aerospace operations — which accounted for more than a third of Honeywell’s revenue last year — would extend the significant portfolio changes under Chief Executive Officer Vimal Kapur. Since taking the helm last year, ...